Dean J. Mitchell Appointed President and Chief Executive Officer of Guilford Pharmaceuticals
November 17 2004 - 7:01AM
PR Newswire (US)
Dean J. Mitchell Appointed President and Chief Executive Officer of
Guilford Pharmaceuticals BALTIMORE, Nov. 17 /PRNewswire-FirstCall/
-- Guilford Pharmaceuticals Inc. (NASDAQ:GLFD) today announced the
appointment of Dean J. Mitchell as President and Chief Executive
Officer, effective December 1, 2004. He will succeed Dr. Craig R.
Smith, who is retiring. Mr. Mitchell brings with him a
distinguished 25-year career in the pharmaceutical industry, most
recently with Bristol-Myers Squibb and formerly with
GlaxoSmithKline (GSK). "Over the next 12 to 18 months Guilford is
poised to achieve a number of important milestones including the
completion of several critical clinical trials for our AQUAVAN(R),
AGGRASTAT(R) and GPI 1485 products. Mr. Mitchell's extensive
experience in commercial operations and clinical development in the
pharmaceutical industry will provide the leadership and direction
necessary to enable the Company to effectively meet the challenges
it faces during this dynamic period," commented George L. Bunting,
Jr., Guilford's lead independent Director. Mr. Bunting will assume
the role of Chairman of Guilford's Board of Directors when Mr.
Mitchell begins with the Company. "As George stated this is a very
exciting time for the Company, with results from up to thirteen
Phase III and Phase II clinical studies expected over the next 12
to 18 months, including results from our Phase III trials of
AQUAVAN(R), which are expected to be announced in the first half of
next year. I am very enthusiastic about the opportunity to take
Guilford to the next level, and look forward to working with the
Guilford management team to realize the full potential of
Guilford's exceptional product portfolio," remarked Mr. Mitchell.
Mr. Mitchell most recently worked for the Bristol-Myers Squibb
Company in a series of executive management roles, including
President, International Pharmaceuticals, President, U.S. Primary
Care, and most recently as Vice President, Strategy. In these roles
he held responsibility for some of the largest commercial
operations within Bristol-Myers Squibb. Prior to joining
Bristol-Myers Squibb, Mr. Mitchell served with GSK and its
predecessor businesses from 1987 until 2001. During his 15 years
with GSK, Mr. Mitchell held a number of senior management
positions, including most recently, Senior Vice President, Clinical
Development and Product Strategy. His broad international
experience with GSK encompassed roles in the U.S., U.K. and
Canadian markets. In these positions he established a proven track
record in the development of clinical and commercial strategies,
and the effective launch and growth of many pharmaceutical
products. Mr. Mitchell received an MBA degree from City University
Business School in London and a BSc degree with Honors in Applied
Biology from Coventry University. "I believe Dean Mitchell is a
superb choice to lead Guilford," said Dr. Smith. "His experience in
pharmaceutical operations, strategic planning, and clinical
development are an excellent fit with the Company's future needs. I
look forward to a smooth transition and working as a member of the
Board to fulfill the promise we at Guilford have worked so hard to
create." About Guilford Guilford Pharmaceuticals Inc. is a
pharmaceutical company engaged in the research, development and
commercialization of proprietary drugs that target the hospital and
neurology markets. Presently, Guilford markets two commercial
products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine
implant), for the treatment of brain cancer, and AGGRASTAT(R)
Injection (tirofiban hydrochloride), a glycoprotein GP IIb/IIIa
receptor antagonist for the treatment of acute coronary syndrome
(ACS). Guilford's product pipeline includes a novel anesthetic,
AQUAVAN(R) Injection, and drugs for treating Parkinson's disease
and peripheral nerve injury. For additional prescribing information
about GLIADEL(R) and AGGRASTAT(R) please see
http://www.guilfordpharm.com/, under Products / Marketed Products.
Contact: Guilford Pharmaceuticals Inc. / Stacey Jurchison -
410.631.5022 This press release contains forward-looking statements
that involve risks and uncertainties, including those described in
the section entitled "Risk Factors" contained in the Company's
Quarterly Report on Form 10-Q filed with the SEC on November 8,
2004, that could cause the Company's actual results and experience
to differ materially from anticipated results and expectations
expressed in these forward-looking statements. Among other things,
there can be no assurance that Guilford will be successful in its
clinical development efforts with AGGRASTAT(R), AQUAVAN(R), or GPI
1485. DATASOURCE: Guilford Pharmaceuticals Inc. CONTACT: Stacey
Jurchison, Guilford Pharmaceuticals Inc., +1-410-631-5022 Web site:
http://www.guilfordpharm.com/ Company News On-Call:
http://www.prnewswire.com/comp/112882.html
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